Thursday, December 8, 2011

State Budget:Ups and Downs

The latest cash report of the state controller reports ups and downs. Unfortunately, the up is more expenditure than expected through November (expected when the budget was passed in June) to the tune of almost $2 billion. And the down in that period is revenues, down by a little over $1 billion than had been forecast. As prior posts have indicated, automatic trigger cuts in the budget are very likely which will cost UC $100 million.

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